Tribe Blockchain Platform Raises $15m In Support Of Startups

Some of you may have heard of Tribe, a Singaporean government-supported blockchain platform. Well, the regulatory backed platform has been helping raise another $15.7 million for involving companies via its ecosystem.

Tribe Accelerator revealed in a press release that an overall total of $28 million has been raised to help support start-ups from all across the globe that attempt to deal with real-world issues with blockchain tech. 

The first group of startups raised over $12 million within three months allegedly, which is massive for firms of that size. 

Ng Yi Ming, Managing partner of Tribe Accelerator commented:

“Another successful round of fundraising underscores the relevance of blockchain technology in solving real-world problems. Every idea or solution shared during the Demo day has the potential to revolutionise the way the linked industry works in the present. We will continue to harbour companies with transformative innovations, that can change the face of the blockchain industry and benefit the end-user — making the technology more mainstream.”

Corporations 

After being launched in December 2018, Tribe is the work of Tri5 Ventures, a venture capital company that aims to support startups that are in their later stages. 

In a year after its release to the world, Tribe Accelerator received the backing from government bodies and corporate partners including the big four accounting giant PwC, South Korean blockchain network Icon Foundation, BMW Group Asia and Intel, among others.

It will be interesting to see how this situation plays out. For more news on this and other crypto updates, keep it with CryptoDaily!